Tokio Marine Asset Management Co. Ltd. Buys 614 Shares of Caterpillar Inc. (NYSE:CAT)

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its stake in Caterpillar Inc. by 4.4%, purchasing an additional 614 shares to reach a total of 14,515 shares valued at $4.79 million.
• Analysts have upgraded their target prices for Caterpillar, with ratings from firms such as Truist Financial and JPMorgan Chase & Co. reflecting bullish sentiments.
• Caterpillar announced a quarterly dividend of $1.51 per share, marking an increase from its previous dividend of $1.41, contributing to an annualized dividend yield of 1.5%.

Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 4.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,515 shares of the industrial products company's stock after acquiring an additional 614 shares during the quarter. Tokio Marine Asset Management Co. Ltd.'s holdings in Caterpillar were worth $4,787,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. McIlrath & Eck LLC lifted its holdings in Caterpillar by 3.2% during the 4th quarter. McIlrath & Eck LLC now owns 962 shares of the industrial products company's stock worth $349,000 after purchasing an additional 30 shares during the last quarter. Asset Management Group Inc. lifted its holdings in Caterpillar by 0.3% during the 4th quarter. Asset Management Group Inc. now owns 10,771 shares of the industrial products company's stock worth $3,907,000 after purchasing an additional 32 shares during the last quarter. Summit X LLC lifted its holdings in Caterpillar by 3.2% during the 1st quarter. Summit X LLC now owns 1,025 shares of the industrial products company's stock worth $338,000 after purchasing an additional 32 shares during the last quarter. Menard Financial Group LLC lifted its holdings in Caterpillar by 1.0% during the 1st quarter. Menard Financial Group LLC now owns 3,174 shares of the industrial products company's stock worth $1,019,000 after purchasing an additional 32 shares during the last quarter. Finally, Dunhill Financial LLC lifted its holdings in Caterpillar by 21.3% during the 4th quarter. Dunhill Financial LLC now owns 205 shares of the industrial products company's stock worth $75,000 after purchasing an additional 36 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jason Kaiser sold 2,161 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider owned 8,632 shares in the company, valued at $3,605,586.40. The trade was a 20.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on CAT shares. Truist Financial lifted their price target on Caterpillar from $414.00 to $507.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Citigroup lifted their price objective on Caterpillar from $460.00 to $500.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Evercore ISI dropped their price objective on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a report on Monday, May 19th. DA Davidson lifted their price objective on Caterpillar from $331.00 to $388.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Caterpillar from $475.00 to $520.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $444.00.

Caterpillar Price Performance

CAT stock traded down $10.09 during midday trading on Friday, reaching $407.41. 3,105,803 shares of the stock were exchanged, compared to its average volume of 3,164,488. The stock has a market capitalization of $190.86 billion, a PE ratio of 20.72, a P/E/G ratio of 2.43 and a beta of 1.40. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $441.15. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. The company has a fifty day moving average price of $399.63 and a 200 day moving average price of $355.92.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 earnings per share for the quarter, missing analysts' consensus estimates of $4.88 by ($0.16). The firm had revenue of $16.57 billion for the quarter, compared to the consensus estimate of $16.14 billion. Caterpillar had a return on equity of 48.95% and a net margin of 14.95%. The company's revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.99 EPS. As a group, analysts expect that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be given a dividend of $1.51 per share. The ex-dividend date is Monday, July 21st. This represents a $6.04 dividend on an annualized basis and a yield of 1.5%. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's dividend payout ratio is presently 30.72%.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.